And the xp post you're replying to, "The Shaman: "My D&D characters look for magic items in ancient crypts and bustling bazaars, not Sears catalogs." Hells... " is another one that baffles me.
Luckily, the author of that post is a member of EN World, so he's available to respond and answer questions.
When a player generates a wishlist, he goes through his books and picks the items he likes, writes them down, and gives them to his DM, yes? Looking through a book of items you want has a real-world analog in catalog sales, and to me, the wishlist process feels more like ordering from a catalog than adventuring. Sure, in-game, the character finds the items in exciting locations by chance, guile, and heroism, but everyone at the table knows it was a result of ordering them through the DM, after choosing them from, effectively, a catalog.
I don't really object to wishlists from a DM perspective. If a player wants something that badly, he'll get it. I might raise an eyebrow, because that situation would be out of keeping with the tone of games I tend to run. Magic items just aren't that large a proportion of character effectiveness in my games, and are mostly fun toys to extend the variety of abilities available, rather than a key component of a character. Nonetheless, I'd make the item available in-game, because I'll do whatever it takes to make sure my players are having fun.*
I object more from a player perspective, and that's why I put in the anecdote about randomizing a wishlist. The wishlist system for me is a bit like being 8, and having your parents ask what you want for Christmas. On the one hand, getting a new 10 speed bike on Christmas day feels really great, and you don't have to worry that your parents will get you a cruddy five-speed Huffy. But you don't get to spend all of December coiled up with anticipation over what Santa's going to bring you. I
want that anticipation, as a player, even at the cost of not getting an item that would fit my character well.
*I have, on request, worn silly hats.